Instagram has successfully doubled its advertiser base within just six months, the company announced on Monday. According to the imaging app, over two million companies purchased ads over the last month. That is four times as many as only a year ago when Instagram announced that 500,000 advertisers were regularly using the platform.
Jim Squires, Head of Instagram Business, explained:
“Our community, including businesses, is growing, and we’re excited to see the continued engagement with brands on the platform. Eighty percent of people choose to follow a business they care about on Instagram, further proving that people are looking actively engage with brands in a meaningful way.”
Whilst the company is still far off from parent Facebook’s five million advertisers, the imaging app has been steadily growing in popularity. In addition, Facebook’s incorporated functionality to simultaneously publish ads on the imaging app has made it easy to reach audiences on Instagram.
Unsurprisingly, a majority of leading Facebook advertisers also advertise on Instagram.
Meanwhile, a large part of ad growth can be attributed to the popularity of video and consumers spending ever more time with the medium. According to the company, users spend around 24 to 32 minutes a day on Instagram, whilst video viewing has grown 80% over the past year.
Indeed, Instagram also announced that the app now reaches 800 million monthly users and 500 million daily users. Much of that growth is being attributed to video and its Stories feature.
What stands out here is the daily usage since that sort of engagement tends to be difficult to achieve. Squires adds:
“Our community is spending more time on the platform than ever before, and we know video is a huge part of that. For businesses, motion is becoming the new filter for advertisers as they embrace Stories to connect with and inspire their customers through an immersive video experience, with 60% of Instagram videos watched with sound-on. We’re excited to see how advertisers continue to use video in creative ways to reach their community.”